Citigroup Lowers ServiceTitan (NASDAQ:TTAN) Price Target to $76.00

by · The Cerbat Gem

ServiceTitan (NASDAQ:TTAN – Get Free Report) had its price target dropped by research analysts at Citigroup from $83.00 to $76.00 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Citigroup’s price objective would suggest a potential upside of 33.28% from the stock’s previous close.

A number of other equities analysts have also weighed in on the stock. Wells Fargo & Company cut their price objective on shares of ServiceTitan from $115.00 to $105.00 and set an “overweight” rating for the company in a research report on Wednesday. Evercore set a $90.00 price target on ServiceTitan in a report on Wednesday. Needham & Company LLC restated a “buy” rating and set a $100.00 price objective on shares of ServiceTitan in a report on Wednesday. Truist Financial reiterated a “buy” rating and issued a $100.00 target price (down from $110.00) on shares of ServiceTitan in a research note on Wednesday. Finally, Robert W. Baird decreased their price target on ServiceTitan from $101.00 to $85.00 and set an “outperform” rating on the stock in a research note on Wednesday. Fourteen equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, ServiceTitan presently has a consensus rating of “Moderate Buy” and a consensus target price of $96.38.

Get Our Latest Research Report on TTAN

ServiceTitan Price Performance

Shares of TTAN stock traded down $24.56 during midday trading on Wednesday, reaching $57.02. 20,651,922 shares of the company traded hands, compared to its average volume of 1,547,225. The firm’s 50 day simple moving average is $84.66 and its two-hundred day simple moving average is $72.69. The firm has a market cap of $5.44 billion, a PE ratio of -39.51 and a beta of 0.11. ServiceTitan has a 1-year low of $54.17 and a 1-year high of $119.60.

ServiceTitan (NASDAQ:TTAN – Get Free Report) last issued its quarterly earnings data on Tuesday, September 8th. The company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.05. The firm had revenue of $292.76 million for the quarter, compared to analysts’ expectations of $285.89 million. ServiceTitan had a negative net margin of 13.44% and a negative return on equity of 5.59%. The firm’s revenue was up 20.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.33 EPS. As a group, research analysts anticipate that ServiceTitan will post -0.54 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO David Sherry sold 9,000 shares of the stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $90.83, for a total value of $817,470.00. Following the completion of the sale, the chief financial officer owned 386,757 shares in the company, valued at approximately $35,129,138.31. This trade represents a 2.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Michele O’connor sold 4,910 shares of the firm’s stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $80.93, for a total value of $397,366.30. Following the sale, the chief accounting officer owned 71,676 shares in the company, valued at approximately $5,800,738.68. The trade was a 6.41% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 514,837 shares of company stock valued at $39,203,222. 39.89% of the stock is owned by insiders.

Institutional Trading of ServiceTitan

Hedge funds have recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. lifted its position in shares of ServiceTitan by 1,005.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 431 shares of the company’s stock worth $46,000 after purchasing an additional 392 shares in the last quarter. Sunbelt Securities Inc. grew its holdings in ServiceTitan by 391.0% during the 4th quarter. Sunbelt Securities Inc. now owns 491 shares of the company’s stock valued at $52,000 after purchasing an additional 391 shares in the last quarter. Parallel Advisors LLC grew its holdings in ServiceTitan by 161.7% during the 3rd quarter. Parallel Advisors LLC now owns 526 shares of the company’s stock valued at $53,000 after purchasing an additional 325 shares in the last quarter. Daiwa Securities Group Inc. purchased a new stake in ServiceTitan during the 4th quarter worth $68,000. Finally, State of Wyoming purchased a new stake in ServiceTitan during the 1st quarter worth $48,000.

More ServiceTitan News

Here are the key news stories impacting ServiceTitan this week:

  • Positive Sentiment: ServiceTitan reported fiscal second-quarter EPS of $0.40, above the $0.35 consensus estimate, while revenue rose 20.9% year over year to $292.76 million, exceeding expectations of roughly $285.9 million. ServiceTitan earnings report
  • Positive Sentiment: Analysts remain broadly constructive despite cutting estimates: BTIG reaffirmed a Buy rating, while Stifel, TD Cowen, Baird, BMO, KeyCorp and Piper Sandler maintained positive ratings. Analysts cited substantial upside potential and investor interest in ServiceTitan’s artificial-intelligence growth opportunity. Analyst expectations for ServiceTitan
  • Neutral Sentiment: ServiceTitan named company veteran Rikus Pretorius as its next chief revenue officer. Current CRO Ross Biestman will remain through the rest of the fiscal year, creating a transition period for the sales organization. ServiceTitan names next chief revenue officer
  • Negative Sentiment: Fiscal third-quarter revenue guidance of $285 million to $287 million came in slightly below the $287.8 million consensus estimate. The cautious outlook overshadowed the earnings beat and prompted multiple analysts to lower price targets, including Stifel and TD Cowen to $100, Baird to $85 and BMO to $90. Why ServiceTitan stock fell after earnings
  • Negative Sentiment: A law firm announced a securities-fraud investigation and urged shareholders who suffered losses to contact it. Although the announcement does not establish wrongdoing, it adds legal and reputational risk to the stock. ServiceTitan securities-fraud investigation

About ServiceTitan

(Get Free Report)

ServiceTitan, Inc (NASDAQ: TTAN) is a cloud-based software provider specializing in end-to-end business management solutions for residential and commercial trade contractors. The company’s platform integrates customer relationship management, scheduling and dispatch, mobile workforce management, invoicing, payments and reporting tools into a single suite. By automating key back-office processes, ServiceTitan helps field service businesses improve operational efficiency, enhance customer experience and drive revenue growth.

At the core of ServiceTitan’s offering is a mobile application that allows technicians to access job details, update work orders, capture signatures and process payments from the field.

See Also